Quipus Capital
@QuipusCapital
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A global search for value investment opportunities. https://t.co/j1UIABgRE1
Joined August 2010
30+ articles in Quipus Capital's Index. I try to write evergreen articles about long-term industrial trends, so they are, for the most part I believe, still valid primers and intros to many industries and companies. Hope you enjoy them!
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I have made good and bad calls, with good and bad timing, and then there's $VIST. First Buy article on the name in Seeking Alpha, in October 2021, single Hold article on the platform since mid-2024, with the stock flat to down since.
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I removed the paywall on my article on China's economic model for one week. I published it in September 2024, when the general consensus was incredibly bearish on China.
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Forgot to share it, but I published a review of my portfolio after 2Q25 on Sunday. The article is still free to read in case you are interested.
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$ATGL, classic US listed BVI co. with operations in China or Hong Kong. The market cap is about 150x revenues or something like that. The CEO made a one-year listing anniversary video dressed as a vampire with a 'Billions' billboard. He cited the vote-weight quote from Graham.
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RT @QuipusCapital: @MikeFritzell This is terrible. Independent directors are the worst. No ownership, no skin in the game. Only a bureaucra….
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When quick reviewing hundreds of names, it's important to know what to look for. The formula from my latest article comes in handy; it allows me to compare earnings yield, growth, capital hunger, and shareholder returns all at once. This has changed the way I look at stocks.
Reviewing over 200 micro and small-cap global chemical stocks 3-minute overview, selecting the best for further research, and will publish as findings come up.
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Reviewing over 200 micro and small-cap global chemical stocks 3-minute overview, selecting the best for further research, and will publish as findings come up.
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I hate that IFRS classifies interest expenses as Cash From Financing. It makes no sense, it's not comparable, it makes FCF look much better than it actually is, specially for levered companies.
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2Q25. IBKR account: YTD -0.12%; Q2 -0.75%.Allocations in the picture below. Argentina account: YTD 33%; Q2 27%.EEM 50% Brazil 48% (LREN, XP, PAGS, BSBR) Cash 2%. As always, a detailed article this weekend or the next
1Q25 performance (IBKR, Argentina published during weekend).YTD: +2.34%; 1Y: +9.06%; Inception (Jan22): 113% (26% CAGR).I'll publish an analysis of my holdings and movements for this quarter, plus the performance of the Argentinian account, this weekend. Cheers!
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Why are all scam fake tech companies listed in Canada? Like 'we have a new method for creating fuel out of thin air by pedalling a bike' or 'we can create meat out of lentils'. Those companies are always listed in Canada.
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My latest post is a soft Sunday afternoon read: what actually creates stock returns? .How to compare two stocks with different growth rates, multiples and capital requirements?.A hint: not with PEs or EV/EBITs, nor complex Excel DCFs. It's free for two weeks. Enjoy!
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RT @QuipusCapital: @marketplunger1 I've written a whole lota lot about Brazil. Let me know and I can send you some of the reports https://t….
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Some stuff has become way more volatile after 2020. These are spot salmon prices.
Reviewing the salmon industry and working on the threat of land-based, I came across this neat chart by BCG. Problem is neatness does not reflect real life, and it is dangerous to think so. In a capital-intensive industry, growth would be closer to 50/100/250/450/400/250/190.
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In my Brazilian macro update, I considered these two problems: you probably need a hot/inflationary labor market to increase productivity. Salary data points in that direction: salaries are growing the most among the young, the uneducated, and the informal workers.
A good/bad indicator from the Brazilian economy: unemployment reached a record low of 6.1%. Good because of economic dynamism, bad because worker salaries fuel inflation. Inflation-adjusted median salaries were up 3.5% YoY. The true challenge is to increase the part. rate
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A good/bad indicator from the Brazilian economy: unemployment reached a record low of 6.1%. Good because of economic dynamism, bad because worker salaries fuel inflation. Inflation-adjusted median salaries were up 3.5% YoY. The true challenge is to increase the part. rate
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